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SAVE UP TO $1100/MONTH WHEN YOU REFINANCE YOUR CURRENT MORTGAGE

YOU MADE IT THROUGH THE HARDEST PART: WHICH WAS BUYING A HOME. FIRST, CONGRATULATIONS. HAVING AN HOUSE IS ONE OF THE BEST DECISIONS YOU COULD HAVE MADE. NOW, PERHAPS JUST A FEW YEARS LATER, YOU ARE THINKING ABOUT AN OPTION TO LOWER YOUR MONTHLY PAYMENT OR REMOVE YOUR PRIVATE INSURANCE. YOU’RE THEN READY TO REFINANCE YOUR MORTGAGE. ARE YOU HAVING QUESTIONS ABOUT HOW HARD IT CAN BE? WE CAN TELL FOR SURE IT WILL NOT TAKE ONLY A COUPLE PHONES CALL OR EMAILS. YES, WE WISH IT WAS THAT EASY. IN FACT, THERE MAY BE MORE PAPERWORK INVOLVED THIS TIME AROUND THAN WHEN YOU FIRST BOUGHT. YOU WILL NEED SOMEONE COMPETENT, EASY TO WORK WITH AND THAT CARE ABOUT GETTING YOU THE BEST REFINANCE OPTION IN THE MARKET. WORKING WITH OUR TEAM OF EXPERTS WILL BE YOUR BEST OPTION. OUR GOAL IS TO ANSWER ANY QUESTIONS YOU MAY, GUIDE YOU DURING THE ENTIRE REFINANCING PROCESS AND MAKE SURE YOU GET YOUR APPROVAL VERY FAST.
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Refinancing your home loan, step by step

 

  1. You will need to determine your goal. Lowering your payment is usually the goal for most refinance customers. However, most applicants are tempted to refinance with another 30-year term. By doing so, they are trying to reduce that monthly payment. But that means they will end up taking a longer time to pay off their house and paying more interest. You’ll want to take into account how much interest you’ve already paid on your old loan and how much you’ll pay with the refinance. You will need to be sure that refinancing is the best option for you at that time.
  2. Learn your current credit score. Check your credit history and get your credit score. You want to make sure they won’t be any surprises when the lender check your credit. The better your score, the better the mortgage refinance interest rates you’ll be offered. It is all come to how good your credit history look.
  3. Research your home’s current value. If you had your home for years, most likely it has increase in value. Check your neighborhood for sales of recent homes like yours. Estimate your home value with a website like Zillow.
  4. Shop for your best mortgage rate. Not all lenders can offer the best refinance rate in the market.
  5. Know your all-in costs. A home loan refinance can trigger a few fees: application fees, the cost of an appraisal, origination fees, a document processing fee, an underwriting fee, a credit report charge, title research and insurance, recording fees, tax transfer fees and points, to name several. You will need to find a lender that can give you all the fees upfront. You don’t want any surprises after you started your applications. At 303homefinancing, you will know your closing cost right away when you apply. We don’t have anything to hide.
  6. Gather paperwork. This can be sometimes harder these days because so many of us do our financial business online. But you’ll have to gather, print or download statements, pay stubs, and whatever else the lender will need during the loan process. the good news is that with 303homefinancing, our team will do their best to get you an approval with the least amount of documents. We understand how stressful it can be to provide a long list of documents.
  7. Lock your rate. You’ll have to decide whether or not, and when, to lock your mortgage refinance rate. The longer you wait, you may be taking the risk of having your rate increase.
  8. Have cash on hand. There are likely to be property taxes and insurance, closing costs and other expenses to pay at closing, so be sure to set aside enough to cover them. Again, with 303homeFinancing, it’s listed in your loan estimate, so there should be no surprises.

 

DO YOU HAVE ANY QUESTIONS? Below are most questions people will be facing when trying to refinance their homes. 

 

When should you refinance your mortgage?

One of the best reasons to refinance is to lower the interest rate on your existing loan. Historically, the rule of thumb was that it was worth the money to refinance if you could reduce your interest rate by at least 2%. Today, many lenders say 1% savings is enough of an incentive to refinance.

How soon can you refinance your mortgage?

Lowering your monthly payments is always popular, especially with interest rates as low as they are now. However, most lenders won’t refinance a mortgage they issued in the last 120-180 days, so you may have to shop for a new lender. Switching loan types is helpful when your situation changes

How does it work when you refinance your house?

Refinancing is done to allow a borrower to obtain a better interest term and rate. The first loan is paid off, allowing the second loan to be created, instead of simply making a new mortgage and throwing out the original mortgage. … In any economic climate, it can be difficult to make the payments on a home mortgage.

When can I refinance my home FHA loan?

Refinancing an FHA mortgage to a new FHA loan is called a streamline refinance, and qualifying for one is fairly easy: Homeowners need to have made at least six monthly payments on their current FHA mortgage and a minimum 210 days need to have passed since the closing of that loan.

What are the benefits of Refinancing Your Mortgage Loan?

Lower Interest Rate. The opportunity to obtain a lower interest rate is a top reason to refinance a mortgage loan. …
Convert an Adjustable Rate Mortgage to a Fixed Rate. …
Cash Out Your Equity. …

How does a cash out refinance work?

Pays difference of your mortgage balance and home’s value.
Has slightly higher interest rates due to a higher loan amount.
Limits cash-out amounts to 80% to 90% of your home’s equity.

How can I refinance my home with bad credit?

 

Improve your credit score. If your credit score isn’t where you want it to be, the best thing you can do is actively work to improve it. …
Shop around. …
Get a cosigner. …
Get an FHA Streamline Refinance.

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YOU ARE A CLICK AWAY FROM REFINANCING YOUR CURRENT MORTGAGE AND SAVING UP TO $1100/MONTH. LET’S START YOUR APPLICATION